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The Nobel Peace Prize for 2006

The
Norwegian Nobel Committee has decided to award the Nobel Peace Prize
for 2006, divided into two equal parts, to Muhammad Yunus
and Grameen Bank for their efforts to create economic
and social development from below. Lasting peace can not be achieved unless
large population groups find ways in which to break out of poverty. Micro-credit
is one such means. Development from below also serves to advance democracy
and human rights.

Muhammad Yunus has shown himself to be a leader who has managed to translate
visions into practical action for the benefit of millions of people, not
only in Bangladesh, but also in many other countries. Loans to poor people
without any financial security had appeared to be an impossible idea.
From modest beginnings three decades ago, Yunus has, first and foremost
through Grameen Bank, developed micro-credit into an ever more important
instrument in the struggle against poverty. Grameen Bank has been a source
of ideas and models for the many institutions in the field of micro-credit
that have sprung up around the world.

Every single individual on earth has both the potential and the right
to live a decent life. Across cultures and civilizations, Yunus and Grameen
Bank have shown that even the poorest of the poor can work to bring about
their own development.

Micro-credit has proved to be an important liberating force in societies
where women in particular have to struggle against repressive social and
economic conditions. Economic growth and political democracy can not achieve
their full potential unless the female half of humanity participates on
an equal footing with the male.

Yunus's long-term vision is to eliminate poverty in the world. That
vision can not be realised by means of micro-credit alone. But Muhammad
Yunus and Grameen Bank have shown that, in the continuing efforts to
achieve it, micro-credit must play a major part.